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These Steel Numbers Just 'Escalated Quickly,' Are You Buying?
Wednesday, March 23, 2016 - 10:23am | 634Credit Suisse’s Curt Woodworth said that the global steel market is rebalancing swiftly, after last year’s fallout from the energy market, substantial destocking, and distressed exports from China. Over the past several weeks, global HRC prices have risen to ~$370/ton, with global...
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U.S. Metals: Balancing A Constructive Domestic Macro Environment Against China Risks
Friday, March 11, 2016 - 1:41pm | 930In their US Metals & Mining Industry report, Credit Suisse’s Curt Woodworth mentioned that the US macro outlook remained “supportive,” with strong medium-term growth potential in both automotive and non-residential construction. Apart from China macro risks, the market has...
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Credit Suisse Bullish On Steel Sector
Friday, March 11, 2016 - 9:02am | 451Credit Suisse’s Curt Woodworth initiated coverage of the US Steel Sector with a bullish view. He mentioned that the US market seemed to be close to a cyclical low point for volume and pricing, and the outlook for both is very strong for the rest of 2016. Global demand seems to be in a...
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Nomura Reiterates On Alcoa, Views RTI International Metals Acquisition Positively
Tuesday, March 10, 2015 - 2:06pm | 245Shares of Alcoa Inc (NYSE: AA) were down on Tuesday after it announced it will acquire RTI International Metals, Inc. (NYSE: RTI). The former will acquire the latter, a producer and global supplier of advanced titanium mill products and a manufacturer of fabricated titanium and specialty metal...
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Nomura Says U.S. Is The Biggest Loser In Steel Trade Wars, Downgrades 2 Names
Tuesday, March 3, 2015 - 11:33am | 322In a report published Tuesday, Nomura analyst Curt Woodworth argued that the United States is the biggest loser in the steel trade wars. According to Woodworth, there are two major structural changes underway that should "significantly" alter the global steep landscape in the coming...
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Nomura On Cliffs Natural Resources: Focus Shifts To USIO Execution
Wednesday, February 4, 2015 - 12:40pm | 221Curt Woodworth of Nomura on Wednesday commented in a note that Cliffs Natural Resources Inc's (NYSE: CLF) USIO and Asia Pacific businesses will remain under "significant pressure" due to sustained fundamental iron ore weakness. Woodworth does note that the company may see its...
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Nomura Lowers Price Target On Nucor As Steel/Scrap Price Correlation Is At Risk
Thursday, January 29, 2015 - 9:06am | 177In a report published Thursday, Nomura analyst Curt Woodworth reiterated a Buy rating on Nucor Corporation (NYSE: NUE), but lowered the price target from $62.00 to $54.00. In the report, Nomura noted, “We continue to see NUE's earnings mix in the coming years benefitting from accelerating non-res...
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Nomura Lowers Price Target On United States Steel On 2015 Guidance
Thursday, January 29, 2015 - 8:58am | 206In a report published Thursday, Nomura analyst Curt Woodworth reiterated a Buy rating on United States Steel Corporation (NYSE: X), but lowered the price target from $55.00 to $37.00. In the report, Nomura noted, “US Steel has significantly exceeded earnings guidance in each of the past four...
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Nomura Upgrades Alcoa, Cites Stabilized Packaging Margin
Monday, January 12, 2015 - 12:55pm | 265Alcoa Inc (NYSE: AA) will benefit from stabilized profit margins in its packaging business as well as accelerating growth in its automotive sector, an analyst said Monday. Nomura's Curt Woodworth upgraded Alcoa to Buy and boosted his price target on the company 23 percent to $23 a share....
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Cliffs Natural Resources Inc Falls 16% On Nomura Downgrade
Friday, October 3, 2014 - 4:49pm | 198Shares of Cliffs Natural Resources Inc (NYSE: CLF) were pummeled Friday after a downgrade from Nomura. The firm changed Cliffs' rating from Buy to Reduce and revised the price target from $18 to $5. Analyst Curt Woodworth made the changes based on "sharply reduced NAV following a...
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Nomura Says Aluminum Rally Is Overdone
Thursday, August 7, 2014 - 1:24pm | 222Alcoa (NYSE: AA) shares trended down Thursday after one analyst said the worldwide aluminum market has slipped into an oversupply that will persist into 2015. Alcoa shares are up more than 50 percent year to date, hit a high of $17.22 last month, but has been in retreat in recent days. Nomura...
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UPDATE: Nomura Upgrades United States Steel on Significant FCF Potential
Monday, March 10, 2014 - 10:03am | 133In a report published Monday, Nomura analyst Curt Woodworth upgraded the rating on United States Steel (NYSE: X) from Neutral to Buy, and raised the price target from $27.00 to $32.00. In the report, Nomura noted, “We are upgrading US Steel to Buy and increasing our PT to $32 from $27 to account...
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UPDATE: Nomura Raises PT on Freeport-McMoRan on Significant Catalysts/Growth Drivers Ahead
Wednesday, December 11, 2013 - 1:28pm | 140In a report published Wednesday, Nomura analyst Curt Woodworth reiterated a Buy rating on Freeport-McMoRan Copper & Gold (NYSE: FCX), and raised the price target from $38.00 to $45.00. In the report, Nomura noted, “We are increasing our target price to $45 from $38 and we see equity valuation...
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Alcoa Upgraded (AA)
Wednesday, May 26, 2010 - 2:40pm | 114Aluminum giant Alcoa (NYSE: AA) was upgraded this morning by Macquarie Research who said it expects the price of the metal to rise over the next several years. Aluminum prices have slumped 20 percent since their highs in April. Analyst Curt Woodworth noted that physical premiums for aluminum in...
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Alpha Natural Resources Soaring On Upgrade
Wednesday, December 9, 2009 - 4:35pm | 92Coal producer Alpha Natural Resources (NYSE: ANR) is soaring today after Macquarie Equities Research analyst Curt Woodworth upgraded the shares to ''outperform'' from ''neutral.'' Woodworth also increased his price target on the stock to $47 a share from $40. Alpha Natural is poised to benefit as...